What is so wrong with monopolies if they just got that way because they beat the shit out of their competitors? In a free market any monopoly will always have a competitor that springs up so monopolies really can't exist for to long.
So, if the electricity coming to my house is owned by a monopoly, how exactly would a competitor 'spring up'?
NO. By the very definition of a monopoly (one seller and many buyers), there can be no competition. There is no free market. If competition arises you do not have a monopoly. Competition can not arise since the monopoly controls the market. This situation occurs when you have unregulated capitalism, no government regulation.
Regulated Capitalism, which is the economic system in the US and most of the world puts controls on businesses forcing some degree of fair play thus allowing for the rise of competition.